HAGL was fined 3 billion and suspended securities trading for 5 months

Tay Nguyen Agricultural Service Company Limited, a unit related to Hoang Anh Gia Lai Joint Stock Company (HAG), issues bonds. At that time, Hoang Anh Gia Lai used the shares of HNG – Hoang Anh Gia Lai International Agriculture Joint Stock Company (where Mr. Doan Nguyen Duc was vice chairman of the Board of Directors) as collateral at the bank.

But then, this company had overdue debt, so the bank sold off 20 million HNG shares on January 7 and sold 5.4 million HNG shares on January 10 on the securities account of the Joint Stock Company. Hoang Anh Gia Lai for debt recovery. However, HAGL did not report on the expected trading of the above shares.

Therefore, the State Securities Commission fined HAG 3 billion dong and suspended securities trading activities for 5 months for Hoang Anh Gia Lai Joint Stock Company.

Tay Nguyen Agricultural Service Co., Ltd. has the same head office address as Hoang Anh Gia Lai Joint Stock Company, specializing in the field of cultivation and animal husbandry. This company opened in 2015 with the aim of supporting HAG in the agricultural sector.

Sessions 7/1 and 10/1 saw put-through transactions of two lots of HNG shares similar to the above volume, total transaction value was 325.12 billion dong. This is the amount that the credit institution collects when disposing of HNG shares.

Hong Chau